The Alaska Permanent Fund was established by a constitutional amendment in 1976 to invest proceeds from the sale of minerals, especially oil through the Trans-Alaska Pipeline System, for the benefit of current and future Alaskans. In September 2005, the fund's value was over $31 billion and on November 21, the Permanent Fund cleared the $32 billion mark for the first time. State nickname: The Last Frontier, The Land of the Midnight Sun Other U.S. States Capital Juneau Largest city Anchorage Governor Frank Murkowski (R) Senators Ted Stevens (R) Lisa Murkowski (R) Official language(s) English Area 663,267 mi² / 1,717,854 km² (1st) - Land 571,951 mi² / 1,481... 1976 (MCMLXXVI) is a leap year starting on Thursday (link will take you to calendar). ... Minerals are natural compounds formed through geological processes. ... Oil is a generic term for organic liquids that are not miscible with water. ... Map of the pipeline The Trans-Alaska Pipeline System (TAPS), usually called the Alyeska Pipeline in Alaska or the Alaska Pipeline elsewhere, is a major U.S. oil pipeline connecting oil fields in northern Alaska to a sea port where the oil can be shipped to the Lower 48 states... Ongoing events • Abramoff-Reed gambling scandal • Atlantic hurricane season • Avian influenza (H5N1) outbreak • Bali bombings investigation • California wildfires • UK Conservative Party leadership election • DeLay political financing scandal • Dengue outbreak in Singapore • Fuel prices / Peak oil • Harriet Miers nomination and hearings • Hurricane Wilma • Irans nuclear program • Kashmir earthquake • London bombings... November 21 is the 325th day of the year (326th in leap years) in the Gregorian Calendar. ...
In 1980, the Alaska State Legislature created the Alaska Permanent Fund Corporation to manage the Permanent Fund's assets as well as other state investments as designated by law. 1980 (MCMLXXX) was a leap year starting on Tuesday. ... The Alaska Legislature is the state legislature of the U.S. state of Alaska. ...
Each year, the fund's realized earnings are split between inflation-proofing, operating expenses, and the annual Permanent Fund Dividend, which provides Alaskans who have resided in the state at least one calendar year an annual payment averaging $1,000 (although that has been substantially more in recent years). Some officials have proposed changing the Permanent Fund's management system to a more typical Percent of Market Value approach, but changing the fund's management system requires an amendment to the state constitution. The PoMV proposal would allow the state to withdraw up to 5% of the fund's value each year for the dividend program and government spending. Tentatively, the idea is that 50% of the earnings will go to the dividend program and 50% will go to the state as an additional source of revenue, but this has yet to be decided. Advocates say that the fund's average rate of return has historically been 8% and that the PoMV approach would self-inflation-proof the fund while allowing earnings to be used for more than just dividends. Critics are concerned that dividend amounts will go down, fear that money would be taken out of the principal in bad years, and ideologically believe that the state should not receive any money directly from the fund. The Alaska Permanent Fund Dividend program was created by state legislation in 1980 to share the wealth of the Alaska Permanent Fund with the people of Alaska. ...
It is bordered by Yukon Territory and British Columbia, Canada to the east, the Gulf of Alaska and the Pacific Ocean to the south, the Bering Sea, Bering Strait, and Chukchi Sea to the west, and the Beaufort Sea and the Arctic Ocean to the north.
Alaska is the only state that is both in North America and not part of the 48 contiguous states; about 500 miles (800 kilometers) of Canadian territory separate Alaska from Washington.
The AlaskaPermanentFund was established by a constitutional amendment in 1976 to invest proceeds from the sale of minerals, especially oil through the Trans-Alaska Pipeline System, for the benefit of current and future Alaskans.
In 1980, the Alaska State Legislature created the AlaskaPermanentFund Corporation to manage the PermanentFund's assets as well as other state investments as designated by law.
Each year, the fund's realized earnings are split between inflation-proofing, operating expenses, and the annual PermanentFund Dividend, which provides Alaskans who have resided in the state at least one calendar year an annual payment averaging $1,000 (although that has been substantially more in recent years).
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